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provisions giving you 1.6. the starting point for the administration. john boehner about a year and a half ago stopped about 800 alien dollars worth of revenue through tax reform. republicans won't give a number now but they want tax reform and an overhau overhauled the entirm to generate new revenue. there was talk about this yesterday with treasury secretary commissioner who said to that idea pretty much forgot about it. >> there is a lot of magical thinking about how much money can raise from tax adventures. people will look at that question and concluded i think incorrectly that there is a huge amount of resources. i think that is untrue. >> a dozen of ceos meet with the president and a couple of hours from now after the president's news conference at 1:30. a number of these executives have been to the white house before. members of the export council, jobs council, ceo of of ge, tao, ford, also say what the white house on the different councils in some form or another. cheryl: we will be taken the tae news conference from the president lives and the ceo will have something to chew on
heard from speaker john boehner and mitch mcconnell on their position because they will all be here at the white house on friday to get these talks kick started. melissa: thank you so much. lori: estevez houston with a news conference, president obama will be sitting down with a ceos to talk about solutions to avoid the fiscal cliff. rich edson in washington as well the latest developments. >> good afternoon. wrapping in the 2:00 hour, leaves the east room, here to the west wing where he will meet with about a dozen ceos, half of whom are part of the export counselor, jobs council, or they are very familiar with the white house, in particular this white house. the discussion is of the opening offer on taxes, $1.6 trillion in tax increases, most of that tax increases on rate and deductions for those earning more than $250,000 per year. republicans wanted an overhaul of the entire tax system and create revenue through an overhaul of the tax code mostly by getting rid of deductions. saying no to higher rates. that is the risk the treasury secretary shot down. >> there's a lot of magica
there to some degree was house speaker john boehner. ms. mcconnell digging his heels at democrats in the senate digging their heels and the president appears to be doing the same as well, as we will have to see what happens. dagen: what has been the reaction the corporate bond market? this thread has gotten wider, but is that because the yield on the 10-year is falling? >> we have seen some selling take place, corporate are linked to equities to some degree, we've all seen the trade-off they place in equities. there have been several new issues come into the marketplace over the last several days. if you look at a couple of weeks ago they were substantially oversubscribed. if you look at one place where the market has benefited from all of this comic has been muniz. units have reached all-time record lows. a lot of demand take place, certainly all this discussion about tax increases have gotten people worried. also another impact as well, a series of ballot measures that took place last election day, and the ones that were passed were generally bond market friendly. for example in california th
and engage. i would be much happier if he was spending his time on the weekend talking to john boehner, majority leader reid, minority leader nancy policy. lou: isis and the president would interrupt the congressional thanksgiving holiday just because of a national crisis? >> we need a deal quickly. listing the business community confidence decline. this makes it worse, in those circumstances it is hard to imagine the household sector will remain strong. it has hung in there so far but we will not get real growth with negative investments. this deal has to get settled quickly in my view. lou: it was striking treasury secretary timothy geithner chose now is the time to talk about the importance of lifting through infinity but that feeling that is imposed by congress. i cannot believe the treasury secretary facing all of the issues that we do as a nation and its economy, the fiscal cliff would choose now to talk about the debt ceiling, for crying out loud. >> we have the fiscal cliff and there is a debt ceiling, that does not have to come up in february or march. we have a big debt probl
, it is not going to make a difference. john boehner needs to stand his ground. he needs to say we can bring in more revenue, reform the tax code but won't raise taxes on anyone at this time. if the republican party doesn't stand for something, then they may as well call themselves another set of democrats. charles: the republican party was deemed the party of no for the last couple of years, and i think it hurt them at the polls. do they have to compromise somewhere? >> they will likely have to compromise but where they shouldn't compromise is raising taxes. that's going to affect economic output. even cbo talks about another drop in economic output. our gdp growth -- charles: if they don't raise taxes, how do they do it? what does boehner mean by revenue? >> you have to cut out subsidies. along with that tax reform is necessary so companies can make more money, small businesses. if you make it so they can be better companies, bigger companies, hire more people, even a a part timer, you can't to increase economic output. >> articulate why that's not the solution. explain to people why raising taxes
, house republicans are saying john boehner is saying we will do revenue from tax reform but must be accompanied by meaningful tax reform so two different messages. congress is back in session after a hiatus for the election season. mitch mcconnell meeting with the new republican senator in that body, democrats and republicans returning to capitol hill and on friday the big meeting, president obama, congressional leaders start talking fiscal cliff. cheryl: they need to get going. thank you, live at the white house. dennis: labor leaders love president obama but can he bring business leaders in? we meet with ceos tomorrow and trying to get republicans to compromise. republican senator and minority whip roger wicker of mississippi joins us from the capital. president obama says his reelection means we will tax the rich. democrats, republicans say they are old and the house meaning we won't raise taxes on any one. are you two side going to blow this and what let happen? >> i hope not. there is room for compromise. but i don't think labor leaders are going to get everything they want
cuts for social security, medicare and medicaid. john boehner says we will talk more tax revenue in an overall tax system but we won't discuss without entitlement reform. that is the key for republicans. they will do tax revenue but it has got to be part of an overhaul of the tax system and has to involve medicare, medicaid and social security. exactly what, folks. but white house don't want to. melissa: leaders in d.c. are scrambling to figure this out but our first guest says he really does fear we're going to hit the fiscal cliff. think of while e. coyote and the acme parachute. scott hodge is president of the tax foundation. you are well known for innovative ideas on tax policy. in the 1990s you campaign to include a child credit in capital gains tax cuts. what is your best idea this time around? >> the best idea right now is for everybody to take a deep breath and pumped into next year. all the tax cuts should be extended for one more year to give congress and the white house some extra time to get off of their political posturing and make a rational deal between them. this
Search Results 0 to 6 of about 7